PureCycle Technologies (PCT): Q3 revenue $2.3M vs $4.5M in Q2; net income $6.9M only on $58.6M warrant gain; Adj. EBITDA $(28.0)M; Musa named Executive Chairman
PureCycle Technologies Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Regulation FD Disclosure, Leadership Update, Financial Statements and Exhibits
What this filing says
PureCycle reported third-quarter 2026 results, with net income of $6.9 million driven mainly by a $58.6 million non-cash gain from the change in fair value of warrants, while operating loss was $37.5 million. Shareholders should note that the profit comes from a non-cash accounting gain, and that Adjusted EBITDA remained negative at $(28.0) million. The filing also appoints Fernando Musa as Executive Chairman, effective November 3, 2026, through December 31, 2027.
Key figures
- Q3 net income
- $6.9 million
- Non-cash warrant fair value gain
- $58.6 million
- Q3 operating loss
- $37.5 million
- Q3 Adjusted EBITDA
- $(28.0) million
- Q3 PureFive resin production
- 5.2 million pounds
- Q3 consolidated revenue
- $2.3 million
Positive for shareholders
- Net income was positive in the quarter, though only because of the warrant gain.
- Adjusted EBITDA improved $0.6 million year over year.
- Railcar shipments to a large customer for hot lids began in October, with expected annual volume of about 7 to 8 million pounds once fully ramped.
- Ironton production rose 14% sequentially to 5.2 million pounds of PureFive resin.
Negative for shareholders
- Operating loss was $37.5 million in the quarter, and Adjusted EBITDA stayed deeply negative.
- Q3 revenue fell to $2.3 million from $4.5 million in the prior quarter.
- Q3 operational issues at Ironton limited production before they were resolved.
- Debt service of $9.4 million is due in Q4, mainly a December 1 revenue bond payment.
Written by Quantisnow AI from this filing. Not financial advice.
Form 8-K cover page
Key terms
- Warrants:
- Contracts that give the holder the right to buy company shares at a set price, whose accounting value changes with the share price.
- Adjusted EBITDA:
- A company-defined profit measure that starts from net income and adds back interest, taxes, depreciation, amortization and certain other items.
- Put option:
- A contract giving the holder the right to sell an asset or security back at a set price.
- Regulation FD:
- An SEC rule requiring companies to disclose material information to all investors at the same time.
FAQ
Why did PureCycle report a net profit in Q3 2026?
The release attributes the $6.9 million net income to a $58.6 million non-cash gain on the change in fair value of warrants. Operating loss in the quarter was $37.5 million.
What project spending and debt payments does PureCycle expect in Q4 2026?
The release expects about $4 million of project spend in Q4 and full-year project spend of approximately $51 million, excluding financing-dependent spend. Debt service is expected to total $9.4 million, mainly the December 1 revenue bond payment.
What is the role of Fernando Musa at PureCycle?
The filing says the Board appointed Fernando Musa, an independent director, as Executive Chairman for a term through December 31, 2027, beginning November 3, 2026.
Historical context for PCT
Across the 29 sessions after earlier PCT headlines, the stock closed higher 18 times and lower 11 times, with a median move of 5.3% in either direction. This shows timing only: many things move a stock in a session, and these figures do not show that any headline caused a move.
| Session | Earlier headline | PCT | SPY |
|---|---|---|---|
| Nov 5, 2026 | PureCycle Technologies Reports Third Quarter 2026 Results | -32.6% | -4.4% |
| Oct 22, 2026 | PureCycle to Report Third Quarter 2026 Financial Results on November 4, 2026 | +0.4% | -1.2% |
| Aug 12, 2026 | IPL Schoeller & PureCycle Launch Off-the-Shelf Container Line, SnapPack Square EVO, Ahead of State Sustainability Mandates | -6.3% | +0.3% |
| Aug 7, 2026 | PureCycle Technologies Reports Second Quarter 2026 Results | +4.9% | +0.6% |
| Jul 24, 2026 | PureCycle Schedules Second Quarter 2026 Corporate Update | -2.7% | +0.1% |
| Jul 15, 2026 | PureCycle & Mitsui Announce Strategic Partnership with RM TOHCELLO to Bring Recycled Polypropylene to Flexible Packaging in Japan | +4.3% | +0.4% |
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- Major Chemicals
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